Why flexible, cloud-based accounting solutions and a focus on financial forecasting will continue to dominate.
If the last 12 months have taught us anything, it’s that the ability to adapt quickly and easily to whatever the world might throw at us next is something every industry should always focus on. Enterprise Resource Planning (ERP) is no exception.
Looking ahead, it’s pretty clear that cloud-based solutions will continue to provide the accounting industry with game-changing innovation and technology like automation and artificial intelligence (AI) for data analytics, allowing accountants to provide their clients more than just accurate financial records, but proactive financial solutions too.
Work from anywhere
Thanks to cloud-based software solutions, accountants can work securely from anywhere, at any time, from any device with an Internet connection. Access to crucial data in real time allows accountants to make the most informed decisions to push the business forward, saving valuable time and, yes, money, in the process.
Braintree’s BC Xpress goes one step further by offering rapid deployment for an almost seamless move into the cloud. The product is designed to get you up and running with your cloud-based accounting software in as little as eight days. Microsoft supplies everything needed – from secure servers to automatic software updates – to keep things running smoothly.
Automate the admin
Cloud-based technology will continue to make the lives of accountants and financial professionals even easier by automating time-consuming and user-error prone practices like invoice generation and payroll admin. By automating these types tasks, accountants are free to focus on creating more efficient workflow practices with in-depth data analysis.
BC Xpress provides crucial information – like payment notifications for vendors and the appearance of fraudulent purchases – automatically thanks to its approval workflows. With BC Xpress’ Financial Management, accountants have the power to make informed decisions, while improving their closing and reporting capabilities. Not to mention keep track of receivables, payables, inventory levels, audit trails as well as manage and reconcile multiple bank accounts across multiple currencies.
Predict the (financial) future
With almost half of the most time-consuming accounting necessities taken care of, more accountants and financial professionals will find themselves able to analyse crucial data and create more accurate forecasting models to guide their clients and their companies towards the best decisions possible. This allows accountants to bring value and insight to the numbers and plan with confidence about where to go next to maximise profitability, increase sales or opportunities for growth.
BC Xpress is designed to quickly deploy the core financial and operational business solution functionality available in Microsoft Dynamics 365 Business Central. It connects all the most important decision makers to a single, unified solution to analyse and share data with ease. Access to the most current and accurate data will propel your business forward from anywhere at any time.
Written by Guin Davies: Vox Senior Content Writer